More than 100m people will make an NFC mobile payment in 2016

More than 100m people around the world will use an NFC handset to make a purchase this year, according to a new report from Strategy Analytics, and the value of transactions conducted via NFC handsets will grow from US$30bn in 2016 to US$240bn in 2021.

Strategy Analytics is encouraged by rising use of contactless payments over the past twelve months, particularly in cities like London where the acceptance of contactless payments has become nearly ubiquitous. Nitesh Patel, Director, Strategy Analytics’ Mobile Payments, noted, “Transport for London has highlighted the importance of wide reaching contactless payment acceptance in driving adoption and use. With three percent of all journeys paid for using contactless driven by mobile phones in December 2015, just six months after the launch of Apple Pay, it is clear that NFC-based payments have strong potential for future growth.”